Use the Passage Below to Answer All Parts of the Question

question 43

Essay

Use the passage below to answer all parts of the question that follows.
"Like the refinement of the arts of navigation, the Scientific Revolution in general required the combination of a political landscape that gave protected space to thinkers and broader circumstances that favored the long-distance flow of ideas and information. The political (and after 1517 increasingly religious) fragmentation of Europe, combined with the peculiar institution of universities, achieved the prerequisite political landscape. The information flow came via the printing press and oceanic voyaging.
"This confluence of circumstances explains why the Scientific Revolution happened in Europe and not elsewhere. . . . Hence Europeans alone developed a culture of scientific inquiry that after 1500 provided immense practical knowledge. Navigation and astronomy came first. Physics and ballistics-useful in artillery-followed, as, more slowly, did systematic sciences of medicine, botany, and chemistry, among others. Slowly, these sciences yielded practical advantages in military affairs, agriculture, mining, metallurgy, and elsewhere. These . . . made even small European states increasingly formidable from the late sixteenth century."
J. R. McNeill and William H. McNeill, in The Human Web: A Bird's-Eye
View of World History, 2003
(A) Identify ONE way that oceanic voyaging increased the flow of information into Europe.
(B) Identify ONE reason that sixteenth-century China failed to provide the circumstances that the McNeills described as leading to the scientific revolution in Europe.
(C) Identify and explain how ONE small European state became more powerful in maritime trade in the sixteenth century because of its practical knowledge.

Analyze the impact of monopolies on market outcomes, including prices and quantities.

Calculate consumer surplus, producer surplus, and deadweight loss in both competitive and monopoly markets.

Understand the effects of government intervention in monopolies through regulations such as price ceilings.

Differentiate between market structures based on the ability to price discriminate.

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Definitions:

Delegation

The act of assigning responsibility or authority to another person to carry out specific duties.

Third-Party Beneficiary

An individual or entity that, while not a direct party to a contract, is intended by the contracting parties to benefit from it.

Novation

The act of replacing an existing contract with a new one, involving a different obligation or party.

Assignment

The transfer of rights, property, or obligations from one party to another, often used in contracts or financial transactions.